Global Oxygenated Solvents Market Overview –
These organic solvents are known as oxygenate solvents because of the presence of oxygen in their chemical structure. Chemical reactions from olefins yield alcohols, ketones, esters, ethers, glycol ethers, and other types of solvents. These highly pure Global Oxygenate Solvents Market are a result of extensive solvent refining methods that remove superfluous water and particle debris at various stages of the manufacturing process. Paints and coatings, personal care items and pharmaceuticals are just some of the industries where these solvents are commonly utilize. They are also use as diluents in a variety of formulations besides chemical production.
During the forecast period, the oxygenate solvents market is expect to grow at a CAGR of over 7%. Increasing applications in a wide range of end-user industries are among the primary drivers fueling the market’s expansion. Unfavorable market conditions resulting from the outbreak of COVID-19 have stifle market expansion.
Market Size and Forecast –
During the projecte period of 2020-2028, the oxygenate solvents market is expects to see a significant CAGR. A number of factors influence the size of the market, including product type, supplier, end use, and geographic location. Conventional products make up the majority of the supply, as they are more easily accessible and may be found in poorer countries, where demand is high and regulations are minimal, as well. A significant increase in demand for bio and green products is anticipate in the more develop countries due to stricter environmental regulations, increase public awareness of green alternatives, and increase purchasing power.
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Market Scope –
The “Global Oxygenate Solvents Market Analysis to 2028” is a specialize and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the oxygenate solvents market with detail market segmentation by source, type, application, and geography. The global oxygenate solvents market is expect to witness high growth during the forecast period. The report provides key statistics on the market status of the leading oxygenate solvents market players and offers key trends and opportunities in the market.
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Some of the companies that are profiled in this report are –
BASF
DowDupont
Oxea
Eastman Chemical
Lyondellbasell
Royal Dutch Shell
Exxonmobil
Ineos
China Petroleum & Chemical Corporation (Sinopec)
Petroliam Nasional Berhad (Petronas)
By Type –
Alcohols
Esters
Glycols
Glycol Ethers
Ketones
Others
By Application –
Paints & Coatings
Pharmaceuticals
Personal Care
Crop Protection
Lubricants
Others
By Region –
The North American market is expect to increase at a rate of over 2.5 percent through 2024, driven mostly by the size of the American market. The outlook for the cosmetics business in the region will be booster by an increase in disposable income and cosmetics consumption. To soothe and improve skin structure, these are use in a wide range of products, including creams, sunscreens, lotions, and ointments. This is supporting regional industry growth.
Green industrial solvents market demand in Europe, driven by the UK, France, and Germany, may reach USD 1.5 billion by 2024. In cosmetics, bio-glycols are utilize as humectants since they attract water. Flaking is reduce, and skin suppleness is restore, which is why it can be found in many different creams and moisturizers. As a viscosity-reducing agent and other functions, the product may increase demand over the anticipate period.
China, India, and Japan are expects to lead the Asia Pacific market in terms of market size by the end of the forecast period. Increasing sales of passenger cars may lead to an increase in the automotive paint sector, which in turn will lead to an increase in the need for industrial solvents in the region.